5X the Sales Means More Creators Can Get Crafty with The Original ScrapBox and Bread Financing

March 18, 2019 | 4 mins

Whether you’re sewing, knitting, designing, or hot glue-gunning, pursuing your DIY passion can get messy. Many creators end up with a disorderly craft room overflowing with beads, buttons, thread, and other supplies. This all-too-common problem was the inspiration for The Original ScrapBox, who provide specialized storage and cabinets that help crafters and artists take back their creative space by organizing their materials into a tidy workstation.

Original ScrapBox and Bread partnered to offer flexible financing so they can make their craft organizing solutions available to as many DIY dreamers as possible.

Challenge:
The Original ScrapBox had an engaged community of craft aficionados, but their financing partner Affirm wasn’t delivering the financed sales they expected.

Solution:
With Bread they were able to use targeted financing offers and create a seamless full-funnel experience to drive more sales and larger orders.

Full-Funnel, White Labeled Financing Surpasses Expectations

With their previous financing partner Affirm, Original ScrapBox wasn’t seeing the volume of financed sales they expected. After switching to Bread, they were blown away by how much more those benchmarks increased.

Because Bread seamlessly integrates into Original ScrapBox’s existing website, customers can apply for financing and find out their rate at any point within their buying journey—without having to leave the site or deal with a third party. With Affirm, customers weren’t engaging with financing offers until the very end of their purchase journey. A consistent experience and clear, transparent terms means Original ScrapBox’s customers can focus on what they’re going to craft, not what they’re going to pay.

Since launching with Bread, financed sales are set to surpass their previous partner by over 405%. The AOV on orders financed with Bread are also 34% higher than the AOV for orders financed with Affirm. There has been an 11.6% increase in the share of total financed sales after switching from Affirm to Bread.

“What we love about Bread’s 0% APR promotion is that it is economically the equivalent to offering a 5% discount. But it drives far more sales, larger orders, and more customer delight than any other promotional tactics we’ve ever tried. We love it and our customers love it.”
Keith HubertVP of Digital Marketing, The Original ScrapBox

Targeted Financing Yields Real Results

With the holidays fast approaching, Original ScrapBox knew they had an opportunity to close more sales with the right financing offers. They worked with Bread’s merchant success team to offer 0% APR financing over the holidays, taking aim at cart abandoners, non-purchasers, and dormant subscribers with targeted email blasts offering this attractive rate. Their instincts were right—they ended up making more financed sales in November and December than they had with Affirm over the previous twelve months.

After the success of their holiday campaign, Bread’s success team piloted a custom program allowing Original ScrapBox to offer 0% APR financing year- round to customers with a cart size over a certain amount. The results speak for themselves: AOVs on orders with 0% APR financing were 130% larger than those that didn’t pursue financing at all.

“Before we started using Bread, our customers weren’t able to check their rates and apply for financing with a consistent experience across our site, which meant we were losing out on sales. Bread’s longer terms, full-funnel approach, and white labeling capabilities have changed that. Since the switch, we’re happy to report a big lift in financed sales and AOV.”
Taylor HeylandCFO, The Original ScrapBox

Partnering With Retailers Drives Conversions

Bread’s Merchant Success Team works hand-in-hand with all of our retailers to understand their business and their customers to help them create the most successful financing strategies possible—the relationship doesn’t end after the ink is dry.

“Bread’s Success Team is a really valuable partner for us. Compared to our historic financing partner, Bread has gone over and above with their strategic support. They are easy to work with, and have been incredibly proactive with their data and insight sharing” said Keith Hubert, The Original Scrapbox’s VP of Digital Marketing.

Our Success Team works with you to help meet your goals and increase conversions—that way, we both win. From the start of our partnership, Original Scrapbox wanted to hit a new high-water mark in sales from Black Friday to Christmas. With Bread’s help, we’re glad to report they were able to exceed that goal.

Bread Increases Your AOV

Original ScrapBox customers that financed their orders with Bread ended up making 80% larger purchases than those who didn’t use financing. When just looking at the subset of customers who purchased using Bread’s 0% APR financing, their orders were 130% larger than those who didn’t use financing.

Conclusion

By offering targeted, compelling financing options throughout their customer journey with Bread, The Original ScrapBox is set to quintuple their financed sales in less than a year.